How to Setup a Community Land trust
by, 02-28-2011 at 12:31 AM (1249 Views)
[CENTER][COLOR="Red"][SIZE="6"]Community Land Trust:[/SIZE][/COLOR][SIZE="4"][COLOR="Yellow"]And How to set One Up[/COLOR][/SIZE][/CENTER]
A community land trust is a nonprofit corporation which acquires and manages land on behalf of the residents of a place-based community, while preserving affordability and preventing foreclosures for any housing located upon its land.
The first attempt to establish a CLT in the U.S. was founded with the purpose of helping African-American farmers in the rural South to gain access to farmland and to work it with security.The community land trust (CLT) is an equitable and sustainable model of affordable housing and community development that has slowly spread throughout the United States during the past 40 years.
Since 1992, the defining features of the CLT model in the United States have been enshrined in federal law (Section 212, Housing and Community Development Act of 1992). There is considerable variation among the hundreds of organizations that call themselves a community land trust, but ten key features are to be found in most of them.
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[COLOR="Lime"][B][CENTER][SIZE="3"][URL="http://www.wanttherealtruth.com/blog/2011/02/27/How-to-setup-a-Community-Land-Trust.aspx"]HOW TO SETUP A COMMUNITY TRUST[/URL][/SIZE][/CENTER][/B][/COLOR]